Filed under: Government/Legal, Jaguar, Land Rover
It seems like it was just yesterday when Tata agreed to take Jaguar and Land Rover off of Ford Motor's hands for $2.3 billion. But it probably feels like forever for Tata, as a global automotive crisis followed almost immediately after the purchase. The Indian automaker has already pumped hundreds of millions of pounds of working capital into the struggling brands and now Tata is adding "tens of millions" more to stave off an immediate cash crisis. The cash infusion came after the British government also promised tens of millions of pounds to Jaguar and Land Rover, which employs thousands of British workers. "Tens of millions" doesn't exactly sound like a lot of money in the wake of $17.4 billion dollars in loans given to GM and Chrysler, but Jaguar and Land Rover operate on far smaller scales than its American counterparts. Jaguar and Land Rover has seemingly struggled forever, but after sampling the excellent XF sedan, we're happy the British automakers are worth saving.
[Source: Automotive News - Sub. Req.]
Tata plans to inject "tens of millions" into Jaguar, Land Rover originally appeared on Autoblog on Tue, 23 Dec 2008 09:59:00 EST. Please see our terms for use of feeds.
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